Tata Motors, Srei seal deal for vehicle finance

Focus on construction, mining tippers

Srei Equipment Finance Limited (Srei), a wholly owned subsidiary of Srei Infrastructure Finance Limited, and automotive major Tata Motors, have signed a memorandum of understanding to finance Tata Motors commercial vehicles with a special focus on construction and mining tippers.

Enhanced growth

The agreement will allow both Srei and Tata Motors to explore enhanced growth prospects in the heavy-duty tipper truck segment in the country. Devendra Kumar Vyas, CEO, Srei, said that this partnership would enable customers to acquire their preferred brand of vehicle with customised financing solutions. Srei has carved out a leadership position in the infrastructure equipment financing market due to its customer and manufacturer-focussed approach, according to a Srei release. Rajesh Kaul, Head Sales & Marketing – Medium & Heavy Commercial Vehicle Business, Tata Motors, said that the alliance with Srei was another such initiative to make purchases conducive for a larger market base and establish leasing as a preferred option for construction and mining tippers